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IEA Projection: China and India to Increase Coal Consumption in 2023

Adi Ahdiat 31/07/2023 15:30 WIB

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The IEA projects that coal consumption will increase in China and India in 2023, while it will decrease in the US and the European Union.

Global Coal Consumption Projection (2021-2023)

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IEA Projection: China and India to Increase Coal Consumption in 2023

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Global Coal Consumption Projection (2021-2023)

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The world's two largest coal consumers, China and India, are projected to increase their consumption volume this year.

This projection was presented by the International Energy Agency (IEA) in its July 2023 Coal Market Update report.

According to the IEA, China will consume nearly 4.7 billion tons of coal throughout 2023, a 3.5% increase compared to 2022 (year-on-year/yoy).

Meanwhile, India's coal consumption is expected to increase by 4.9% (yoy) to 1.2 billion tons.

On the other hand, coal consumption in other major consuming countries, namely the United States (US) and the European Union, is projected to decrease, as shown in the graph.

"The decrease (in the US and EU) is influenced by weaker economic prospects, cheaper gas prices, the recovery of nuclear power plants, and energy production from renewable resources," said the IEA in its report.

Despite the decrease in the US and EU, the IEA estimates that global coal consumption in 2023 will be similar to last year, or even slightly increase.

This is because the decrease in consumption in the US and EU is offset by increased consumption in several other consuming countries.

"Overall, global coal demand is expected to reach around 8.38 billion tons in 2023, up 0.4% from the previous year," said the IEA.

"The increase or decrease in global coal demand this year will depend on the weather conditions and the economies of major consuming countries," it continued.

In this report, the IEA did not provide specific projections for coal demand figures in Indonesia. However, its consumption volume is also expected to increase, like in China and India.

"Indonesia will be the fifth largest coal consumer in the world in 2023, in line with its positive economy. The electricity sector, smelters, and other industries are expected to consume more coal," said the IEA.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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IEA Projection: China and India to Increase Coal Consumption in 2023

IEA Projection: China and India to Increase Coal Consumption in 2023

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IEA Projection: China and India to Increase Coal Consumption in 2023

IEA Projection: China and India to Increase Coal Consumption in 2023

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